Budgeting And Budgetary Control System As Tool For Cost Reduction And Profit Maximization In An Organization. (A Study Of A.Aloma Tech Nigeria Limited Port Harcourt, River State).

ABSTRACT

The study of budgeting and budgeting control system as tool for cost reduction and profit maximization in an organization. This research work conducted with special reference to the budgetary system of Aloma tech Nigeria plays in the achievement of profitability for an organization. Budget as a profit planning device set standards of performance of manager, while budGDgetary control is tool implored by management to keep track of actual performance to ensure budgeted standards are achieved. In the course of this research work, 40 managers were taken as sample population. Data is obtained through personal interview and the admimistration of questionnaires secondary data source is also implored. The analysis of the finding indicates that Aloma tech Nigeria limited has a formal system of budgeting and does attach incentives for the attainment of budgetary goals.